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Seattle Housing Authority Buys Waterfront Office for $39M
The Seattle Housing Authority (SHA) is making two acquisitions in Seattle, including an apartment building in the Central District and a new Central Office in the Interbay/Lower Queen Anne area.
SHA acquired the office building, which will be its new headquarters, for $39.5 million. The five-story waterfront property is located at 101 Elliott Avenue. near the city’s Belltown and Queen Anne districts. SHA plans to preserve the 98-unit apartment building in the Central District as affordable housing.
“The purchase of the apartments is an important step in our strategy to help preserve affordable housing in Seattle, and the purchase of our Central Office will result in an estimated $2.5 million annual cost savings, which we will invest in serving more low-income people in Seattle,” said SHA Executive Director Rod Brandon. “We’re also fortunate to have the opportunity to purchase our Central Office at a cost well below other buildings on the market,” said Brandon.
